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Video: UK Tax Increment Financing (TIF)
The Government has announced that it will introduce new borrowing powers known as Tax Increment Financing (or TIF). These new powers will allow local authorities to borrow against predicted growth in their locally-raised business rates in order to fund key infrastructure projects. TIF is creating a buzz amongst developers and local authorities who are desperate to start regeneration projects which have been thwarted by a lack of development finance. Could TIF be the solution?
Peter Cosmetatos of the British Property Federation gives us a comprehensive introduction to this complex new régime.
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As of November 2008,